twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Appraisal News | AMC Directory
Appraisal industry news coverage, including stories about independence requirements, AVMs and appraiser fraud.

AMCs Warn Legislation Could Kill HVCC

TAVMA warns about federal and state legislation

Jan. 25, 2010

By staff

Appraisal management companies are warning that pending legislation could roll back protections established by the Home Valuation Code of Conduct and put mortgage brokers back in contact with appraisers.

HVCC was established through a March 2008 agreement between New York Attorney General Andrew Cuomo, Fannie Mae, Freddie Mac and the regulator of the two government-controlled firms -- the Federal Housing Finance Agency. It prohibits communication with appraisers by originators and loan production staff.

Similar requirements are being implemented for loans insured by the Federal Housing Administration.

In a news release today, the Title/Appraisal Vendor Management Association -- whose members include "40 of the largest" AMCs -- warned that proposed bill H.R. 1728 "would allow mortgage brokers to select handpicked appraisers and communicate with them regarding property values." TAVMA said similar legislation in pending in several states.

"The new bill, if passed, would reinstate business practices that have lead to appraiser pressure," today's statement said. "There is an inherent conflict of interest when appraisers are selected by referral sources that have a financial stake in the outcome of the appraisal."

AMCs have seen an increase in business as mortgage lenders have turned to such firms to maintain HVCC compliance.

TAVMA says 60 percent of residential appraisers work with AMCs.

The trade group disputed claims that AMCs hire unqualified out-of-market appraisers, noting that the average AMC appraiser is chosen based on local real estate expertise and travels 13 miles or less for appraisal assignments.

"AMCs offer clear methods to challenge an appraisal based on incorrect or incomplete comps being used," TAVMA stated. "AMC appraisers are licensed and bound by professional standards that prohibit them from taking assignments if they are unfamiliar with the locality or type of property."

next story

back to current headlines

Political Mortgage News | Mortgage Laws
Mortgage people in politics. Political contributions by mortgage companies. Coverage of political support by lenders and executives. GSE lobbying and issues.

GSE News | Fannie/Freddie Share Statistics
Fannie, Freddie and FHLB news. Coverage of government sponsored enterprise regulation, operations and litigation.

Mortgage Broker News | Originator Newsletter
Stories about mortgage brokering and broker programs. Profiles of successful mortgage brokers. Articles about mortgage brokers who excel at other activities. Broker lawsuits and criminal broker activity.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders